Kucoin is a relatively new Cryptocurrency exchange on which people can trade in different currencies. Although the Chinese market has recently fluctuated considerably in terms of regulation, Kucoin is an exchange from Hong Kong focused on foreign markets. The founders of the exchange started in 2013 to make the technical basis for the platform. In 2017 they completed this and the platform was opened to the users. At the moment the exchange is in place 69 on the list of exchanges based on trade volume in the last 24 hours.
Kucoin exchange wants to position itself as the ‘exchange for the people’. They are convinced that exchanges should not benefit too much from the people who act on their platforms. They have therefore opted to issue KuCoin shares and make them available. The Trading fees are paid out to the owners on the basis of these shares. So you can profit from the growth of the platform by Kucoin shares.
What Are Kucoin Shares?
Kucoin shares are shares in the exchange. A total of 200 million shares are issued, of which 70 million to the founders, 30 million to investors and the remaining 100 million to the other users. The shares of the founders are at least until 2 September 2021 and those of the investors until 2019. This means that these parties with relatively many shares cannot just dump all these shares, so the price will fall.
People who own Kucoin shares receive a payment of the trading fees every day around 00:00 hours. The more shares you own, the more you get paid out. Kucoin currently pays 50% of all fees to the people who own shares. 40% of the fees go to people who have invited others to the platform (referral) and the remaining 10% remain in Kucoin’s possession. So it is clear that there is a lot of distribution among the users.
Sign Up For Kucoin
The registration process of Kucoin is very simple. Create an account for free and within a few seconds via the registration page and confirm your registration via email. Then set up your two-factor authentication and you are now ready to start on Kucoin. Occasionally even free shares are issued to new users.